[[{“value”:”
Alterra IOS Secures $343.6M Loan to Refinance 64 Industrial Outdoor Storage Properties
Alterra IOS, a leading investor and operator in the fast-growing industrial outdoor storage (IOS) sector, has secured a $343.6 million loan facility to refinance a portfolio of 64 IOS assets located across 22 U.S. states. The financing was arranged by Truist Financial Corporation and Bank of Montreal and was executed on behalf of Alterra IOS Venture II, a closed-end fund with $524 million in equity commitments.
“This transaction highlights the value of Alterra’s continued partnership with Truist and Bank of Montreal, both of which worked closely with us to address our needs and objectives from a lending perspective,” said Scott Whittle, Chief Financial Officer at Alterra. “This commitment underscores institutional lenders’ growing confidence in the underlying fundamentals of the IOS asset class.”
The loan, backed by 580 usable acres of IOS properties in key logistics and industrial hubs such as Atlanta, Chicago, Dallas-Fort Worth, and Houston, was used to refinance maturing loans and improve overall borrowing costs across the firm’s portfolio. The capital raise follows a $189 million loan Alterra closed in the first quarter of 2025, originated by Blackstone Mortgage Trust and backed by 49 IOS properties totaling about 235 usable acres under the company’s Alterra IOS Venture III.
JLL Capital Markets’ Chad Orcutt represented Alterra in the recent refinancing deal.
Alterra IOS has emerged as a dominant player in the IOS space with the acquisition of more than 350 sites nationwide, continuing to attract institutional interest and capital within this specialized real estate vertical.
“}]]
